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Sir Philip Green will be grilled by MPs over his role in events that led to the collapse of BHS with a £571m hole in its pension fund, the chairman of an influential Commons committee has said.

Frank Field, the Labour chairman of the Work and Pensions Committee, said the billionaire would be called to account over his sale of BHS for £1 a year ago after he had taken hundreds of millions of pounds out of the retailer in dividends.

“I am sure he will be invited to give evidence,” Mr Field said.

The Committee is due to meet tomorrow morning to agree its plans to investigate the Pension Protection Fund, which may take on the liabilities of the BHS scheme.

Sir Philip Green was knighted in 2006Credit:
Andrew Crowley for The Telegraph